Haynes International Now Covered by Analysts at Credit Suisse (HAYN)
Stock analysts at Credit Suisse assumed coverage on shares of Haynes International (NASDAQ:HAYN) in a report issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $56.00 price target on the stock. Credit Suisse’s price objective would indicate a potential upside of 7.69% from the stock’s previous close.
The analysts wrote, “HAYN is one of the only non-integrated mill producers of nickel-based super-alloys, which may provide M&A optionality given its smaller relative size,” the report said. “However, leading indicators for a recovery remain weak and consensus may still be too high. Internal investments should drive margin improvement in FY’15, but a robust topline recovery is needed as well. Peers are adding new capacity, which will intensify competitive pressures, potentially limiting upside in volumes and pricing.”
HAYN has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Haynes International from a “neutral” rating to an “underperform” rating in a research note to investors on Monday, December 2nd. They now have a $52.20 price target on the stock. Separately, analysts at Topeka Capital Markets downgraded shares of Haynes International from a “buy” rating to a “hold” rating in a research note to investors on Friday, November 22nd. They now have a $51.00 price target on the stock, down previously from $61.00. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Haynes International currently has a consensus rating of “Hold” and an average price target of $55.20.
Shares of Haynes International (NASDAQ:HAYN) traded down 1.33% during mid-day trading on Thursday, hitting $52.00. 39,542 shares of the company’s stock traded hands. Haynes International has a one year low of $43.36 and a one year high of $56.00. The stock has a 50-day moving average of $53.23 and a 200-day moving average of $49.60. The company has a market cap of $636.2 million and a P/E ratio of 30.29.
Haynes International (NASDAQ:HAYN) last announced its earnings results on Thursday, November 14th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.34 by $0.02. The company had revenue of $115.70 million for the quarter, compared to the consensus estimate of $120.90 million. During the same quarter in the prior year, the company posted $1.04 earnings per share. The company’s quarterly revenue was down 23.0% on a year-over-year basis. Analysts expect that Haynes International will post $1.73 EPS for the current fiscal year.
In other Haynes International news, CEO Mark Comerford unloaded 11,841 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $54.27, for a total value of $642,611.07. Following the completion of the transaction, the chief executive officer now directly owns 34,441 shares in the company, valued at approximately $1,869,113. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Haynes International, Inc (NASDAQ:HAYN) is the producers of nickel- and cobalt-based alloys in sheet, coil and plate forms.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.